Woman who killed husband’s other wife to be released to look after children, Dubai court rules



DUBAI // A jealous woman who strangled her husband’s first wife in 1999 and dumped her body was on Tuesday granted early release from prison.

Pakistani R A was aided by her brother when she killed R B, a compatriot, in March 1999.

A friend who helped was also found guilty of pre-meditated murder.

The husband had his two wives living in the same house with their nine children, records show.

The woman had told prosecutors that the first wife had been a troublemaker and often fought with her.

She said the victim had also accused her brother, T A, of theft.

She and her brother decided the first wife had to be killed. They paid M H, also Pakistani, to kill the woman but he failed, so they decided to do it themselves.

She lured the victim to a bank in Sharjah, claiming their husband had asked her to sign some papers.

On the way, they stopped the car in a deserted area of Mirdif, pinned the first wife to the seat and strangled her. They disposed of her body in Al Dhaid.

They were arrested after the husband filed a missing persons report and then identified her body, which was found by police.

Prosecutors charged the three of forming a gang to kill the woman.

After serving 15 years, the three obtained a waiver from their victim’s family and a certificate of good conduct from the prison, as well as an undated letter written by her to the Rulers.

“I am very sorry for what I did. I am seeking God’s mercy and forgiveness, as well as your pardon,” she wrote.

“I was driven and seduced by the devil when I committed that huge mistake.

“I hope I am granted a second chance and released soon so that I can take care of my four children and R B’s five children, considering that my husband is now elderly.”

If Dubai Public Prosecution does not appeal the ruling, the three will be provided with air tickets and deported.

salamir@thenational.ae

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”